Business
Share Repurchase Programme
Share Repurchase Programme.
About this update from Kingfisher Plc
[{"type":"text","content":"\n\n \n \nKINGFISHER PLC\nShare repurchase programme - First Tranche\n \n3 October 2023: Kingfisher plc (the \"Company\" or \"Kingfisher\") announces that it has instructed BNP Paribas Exane (\"BNP Paribas Exane\") in relation to an irrevocable non-discretionary programme to purchase its shares for cancellation, during the period which commences today and ends no later than 12 January 2024 (the \"Tranche\"). BNP Paribas Exane will act as principal for the simultaneous on-sale of such shares to the Company and will make its trading decisions concerning the timing of the purchases of the Company's ordinary shares independently of the Company.\n \nThe maximum amount allocated to the Tranche (excluding expenses) will be no greater than £50 million (Note 1). The purpose of the Tranche is to reduce the share capital of the Company. As such, the Company will cancel any ordinary shares purchased. This is the first tranche of an overall commitment by the Company to purchase £300 million of its shares for cancellation, as announced on 19 September 2023 (the \"Programme\").\n \nAny acquisitions under the Programme will be carried out within certain pre-set parameters, and in accordance with the Company's general authority to repurchase shares, the EU Market Abuse Regulation (596/2014) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and Chapter 12 of the Listing Rules. The Company confirms that it currently has no unpublished price sensitive information.\n \nFor the avoidance of doubt, no repurchases will be made in respect of the Company's American Depositary Receipts.\n \nBNP Paribas Exane (or any affiliate) may undertake transactions in Ordinary Shares (which may include sales, derivatives, and other hedging activities, in addition to purchases) in order to manage its risk positions arising directly or indirectly from the Programme. Disclosure of any such transactions will not be made by BNP Paribas Exane (or any affiliate) as a result of or as part of the Programme, but BNP Paribas Exane (or any affiliate) will make any disclosures they are legally required to make in relation to such transactions.\n \nNote 1. The maximum number of shares that the Company may purchase would be 172,783,432 ordinary shares of 15 5/7 pence each, in line with the authority gra...